The Council of Mortgage Lenders (CML) which represent banks, building societies and other lenders who together undertake around 95% of all residential mortgage lending in the UK, has published its latest set of monthly statistics.
Key points to note include:
- Lending in April was weaker compared to a year ago although home mover lending volumes went up slightly month-on-month.
- Home-owner remortgage activity declined compared to last year.
- Buy-to-let continues to grow year-on-year, mainly driven by remortgage activity, although there was month-on-month decline compared to March.
The director general of the CML Paul Smee commented “The economy is recovering, with employment up, earnings growing, and competitive mortgage rates, so we expect activity to continue building as the year progresses.”